ECONOMY

DEBT

Treasury announces sale of 6-month BOT bills, with relative amounts to be auctioned on July 27.

Italy’s Treasury said on Monday that, thanks to ample cash availability, it would not hold an Aug. 13 bond auction and a sale of inflation-linked paper scheduled for Aug. 28.

COMPANIES (*) FIAT CHRYSLER

A former United Auto Workers official who served on the union committee that negotiated a 2015 labor pact with Fiat Chrysler pleaded guilty on Monday to conspiring to make illegal payments to union officials, prosecutors said.

LUXOTTICA

Ray-Ban owner Luxottica posted broadly flat first-half sales and adjusted operating income as it awaits a Chinese go-ahead this month for its merger with France’s Essilor.

Luxottica CFO said 2018 sales are likely in the lower part of guidance range.

BANCA CARIGE

Banca Carige’s top investor Malacalza Investimenti said it had requested the troubled Italian bank’s board be removed, in an escalating governance spat which regulators say carries major risks. (*) One or two funds would be ready to support shareholder Raffaele Mincione, who holds a 5.4 percent stake in the lender , at the next board meeting, Il Sole 24 Ore reported.

INWIT

Italian tower company Inwit, controlled by Telecom Italia, is interested in any telecom masts that may come to market as a result of a bid on EI Towers.

Inwit’s first-half net profit rose to 70.2 million euros.

(*) AMPLIFON

The Italian hearing aid maker said on Tuesday it agreed to buy privately owned peer GAES Group for an equity value of 528 million euros ($616.6 million), in a bid to enter the Latin American markets and become the top player in Spain.

(*) FINCANTIERI

The green light from France’s and Germany’s regulators to the transfer of 51 percent of shipbuilder Stx France to Italy’s Fincantieri should arrive by the autumn, Il Sole 24 Ore reported. It added that the Italian economy minister and his French counterpart are due to meet in the first days of August in Rome to discuss about the French-Italian alliance in the naval military sector.

TREVI GROUP

Giuseppe Guzzetti, president of bank foundation association Acri, which is a shareholder of state lender CDP, said on Monday the banking foundations were “absolutely against” any intervention in Alitalia by state lender Cassa Depositi e Prestiti.

The Italian carrier would be excluded from a new alliance between peers Delta Airlines, Virgin Atlantic and Air France- KLM due to the uncertainty over its future, Corriere della Sera reported, citing a document sent to the U.S. Transport Department last week. Alitalia is currently in the Sky Team alliance with Delta and Air France-KLM but the changes will not occur until this joint venture will expire, the report added.

TELECOM ITALIA (TIM)

Board meeting on H1 results. (*) Tensions between CEO Amos Genish and the board of the group appear to have been soothed for the moment, La Stampa reported, adding however that some board members did not welcome the way new Tim Brasil CEO Sami Foguel was nominated to substitute outgoing Stefano De Angelis.